Nykaa increases existing stake in Dot & Key to 90%, acquires majority shares in Earth Rhythm

Nykaa on Tuesday announced that it is increasing its existing majority stake of 51 per cent in Dot & Key to 90 per cent by acquiring the additional stake of 39 per cent for a consideration amount of Rs 265 crore. Per the agreement, Suyash and Anisha Saraf, the founders of Dot & Key, shall continue to manage and drive the business and will continue to have an ownership stake in the company

Nykaa had made its initial investment in 2021 and since then the brand has grown multifold, while also achieving profitability since early 2023.